Speciality Medicines IPO

Speciality Medicines is a pharmaceuticals company involved in the marketing and distribution of specialty pharmaceuticals (high-value oral and injectable medicines) that are used to provide treatment for complex and chronic diseases. The company uses two integrated models of operation: contract manufacturing of approved formulations and distribution of specialty products sourced directly from manufacturers.

As of October 2025, the company had a diverse product portfolio comprising over 900 products that span across 22 therapeutic areas, with seven products registered overseas and total 54 products are under process of registration in five countries. The company mainly generates revenue by exporting unregistered specialty medicines. Exports of unregistered specialty medicines accounted for 69.13% of the company's total revenue for FY25, while domestic sales of unregistered specialty medicines accounted for 30.87%.

Currently, the business is heavily focused on chronic disease therapies, making it the company's largest segment. In fact, the overall contribution of chronic to the company's business increased from 18.77% in FY23 to 61.27% in October 2025. The company has a strong presence in India and over 35 other countries globally. Exports have been a major contributor to the company's overall growth and development, with Brazil being the highest exporter, accounting for 43.46% of total export revenues as of Oct 2025. The USA, Lithuania and the UK are other major export markets expected to provide revenues equal to 15.71%, 14.35% and 8.03% respectively.

The largest export market in FY25 was still Brazil at 37.49% followed by Armenia at 24.21%. Within India, the largest geographic contributor to the company's total revenue is Gujarat, which was responsible for an ~62.84% of total domestic revenue, followed by Maharashtra at 18.35% and Manipur at 17.90% as of October 2025. The number of clients contributing ₹1 crore or more in revenue increased from five in FY23 to 10 by October 2025.